News Summary: GM turns 2012 profit despite EuropeFebruary 14, 2013 @ 1:50 pm
(AP) - IN GEAR: General Motors' full-year profit fell 36 percent to $4.9 billion in 2012, partly because of one-time tax changes. Revenue rose 1 percent to $152.3 billion.
SHARING THE ROAD: GM made $6.9 billion in North America, and its U.S. factory workers will get $6,750 profit-sharing checks. International operations rose 16 percent to $2.2 billion thanks to record sales in China. GM lost $1.8 billion in Europe because of the troubled economy and tough market there.
CURVES AHEAD: GM is under pressure to cut costs in Europe and improve sales growth in the U.S., where it's lagging the industry.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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